Wednesday,  Oct 24, 2018,03:00 (GMT+7) 0 0
January trade surplus reaches US$181 million
Hung Le
Friday,  Feb 9, 2018,21:15 (GMT+7)

January trade surplus reaches US$181 million

Hung Le

Workers are seen on a production line at a domestic enterprise. The country enjoyed a trade surplus of US$181 million in January - PHOTO: HUNG LE

HCMC - Vietnam enjoyed a trade surplus of US$181 million last month, contrary to the General Statistics Office’s earlier prediction of the country incurring a trade deficit of US$300 million in the first month of the year.

According to data released on February 8 by the General Department of Vietnam Customs, the country’s total trade volume hit more than US$40.26 billion in January, surging 46.2%, equivalent to US$12.73 billion over the same month last year.

Of which, exports and imports rocketed 41% and 5.9% compared to January 2017 to around US$20.22 billion and US$20.04 billion respectively.

Customs data also showed that foreign direct investment (FDI) enterprises exported US$14.12 billion worth of products, increasing 41.5% or US$4.14 billion over the same period last year, making up 69.8% of the country’s total export revenue.

Meanwhile, the FDI sector spent US$11.7 billion on imports, a year-on-year rise of 52.5%, equivalent to US$4.03 billion, and accounting for 58.4% of Vietnam’s total import turnover.

Thus, FDI firms enjoyed a trade surplus of US$2.42 billion last month while domestic firms ran a trade deficit of nearly US$2.4 billion.

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